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IBPS Clerk Salary 2023: The Institute of Banking Personnel Selection (IBPS) is the body in charge of IBPS Clerk recruitment. With the publication of the IBPS Clerk Notification for 2023, applicants are intrigued about the salary, benefits, and allowances.
In this article, we’ll go over the IBPS Clerk Monthly Salary, Perks, Allowances, Promotion, Job Profiles, and so on. For your convenience, we have also attached the IBPS clerk salary slip. So, if you’re preparing for the IBPS Clerk 2023 exam and want to learn more about the IBPS Clerk salary structure, job profile, and promotion opportunities, keep reading until the end.
Table of Contents
The IBPS Clerk Job profile offers a great salary, as well as opportunities for career advancement and development. The IBPS Clerk is hired for a bank’s entry-level position. As applicants gain work experience, they will have numerous opportunities to demonstrate their abilities. This could help them advance in their careers and gain seniority.
IBPS Clerk Salary is the sum of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances etc.) The first Basic Pay for IBPS Clerk 2023 is Rs 11,765.
IBPS Clerk Payscale is 11765-655/3- 13730-815/3- 16175-980/4- 20095-1145/7- 28110-2120/1- 30230/1310-1- 31540.
We’ve made the table below more clear and easy to understand because this is a difficult concept to grasp. In practise, this means that the minimum Basic Pay for an IBPS Clerk is Rs 11,765, and the maximum is Rs 31540.
| Basic Pay | Amount |
|---|---|
| Initial Basic Pay | Rs 11,765, with a yearly increment of Rs 655 for three years |
| Basic Pay after 3 years | Rs 13730, with a yearly increment of Rs 815 for the next three years |
| Basic Pay after the next 3 years | Rs 16175, with a yearly increment of Rs 980 for the next four years |
| Basic Pay after the next 4 years | Rs 20095, with a yearly increment of Rs 1145 for the next 7 years |
| Basic Pay after the next 7 years | Rs 28110, with a yearly increment of Rs 2120 for the next year |
| Basic Pay after the next 1 year | Rs 30230, with a yearly increment of Rs 1310 for the next year |
| Basic Pay after next year 1 year | Rs 31540 (maximum Basic Pay) |
The IBPS Clerk Salary Allowances are very generous. IBPS provides a clerk with several allowances. These allowances are based on a variety of factors, including the location of the posting, the progress of the branch, and other factors. The following are the various types of allowances available to IBPS Clerks:
| Special Allowance | Rs 1561 |
| Medical Allowance (MA) | This is a one-time payment. The amount is fixed at Rs 2000/- per year for IBPS Clerks. |
| Travel Allowance (TA) | The bank will reimburse expenses for official tours and travels. |
| House Rent Allowance (HRA) | The HRA depends on the location of the posting.The HRA remains between 6.5% to 8.5% depending upon the location of the posting. |
| Dearness Allowance (DA) | The DA is calculated as 4% of the IBPS Clerk Basic Pay. The CPI is used to calculate the DA, which is updated every three months. The initial DA will be Rs 7073. |
| IBPS Clerk Salary Structure – Divisions | Population More Than 45 lakhs | Population Less Than 45 lakhs |
| Basic Pay | Rs 11765 | Rs 11765 |
| Dearness Allowance | Rs 5311 | Rs 5311 |
| Travel Allowance | Rs 425 | Rs 425 |
| Special Allowance | Rs 911 | Rs 911 |
| House Rent Allowance | Rs 1176 | Rs 1058 |
| Total IBPS Clerk Salary | Rs 19588 | Rs 19470 |
Because the benefits, allowances, and salary are all appealing, it’s safe to assume that the job profile will be challenging. The IBPS Clerk Job profile encompasses a wide range of duties and responsibilities, including not only accounting but also customer service, cash handling, and customer guidance. For bank-related inquiries and issues, an IBPS Clerk is the first point of contact. His Job Profile is also known as Single Window Operators because he/she deals with front desk work and customer handling operations.
The following are the job responsibilities of an IBPS Clerk.
Thus, an IBPS Clerk job profile is a significant task without which some major bank operations may be impossible.
As previously stated, IBPS Clerk provides excellent opportunities for personal and professional development. As a bank clerk, you will have plenty of opportunities to demonstrate your potential and merit as you learn how banks operate. You will be given the opportunity to advance based on your performance and contribution to the organisation. Many top bankers began their careers as bank clerks and worked their way up the corporate ladder.
Before applying for promotions, IBPS Clerks must work for a minimum of two years. After that, they will be eligible for promotion every two years. The following two procedures are used to award promotions:
IBPS Clerks are promoted under the Normal Process based on their experience and seniority. They will, however, be required to pass an internal written exam. Applicants who are promoted through this method do not require the JAIIB or CAIIB diplomas. Clerks become Trainee Officers and then Bank Probationary Officers after passing the written exam (PO).
Applicants must have a JAIIB or CAIIB diploma from the Indian Institute of Banking and Finance to be considered for the Merit Based Process.
The following are the subsequent promotions from Probationary Officer:
Yes, the HRA offered to an IBPS Clerk varies depending on the city in which they are posted. HRA amounts to 8.5 percent of basic pay in a metro city. The HRA is 7.5 percent of basic pay for cities with a population of more than five lacs, and 6.5 percent of basic pay for other cities.
At the time of joining, the pay scale of an IBPS Clerk is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.
For promotions, banks regularly conduct interviews and exams. Employees can apply for internal exams in order to advance their careers.
IBPS Clerk in-hand salaries range from Rs.19,000 to Rs.22,000 per month. An employee’s salary rises as he or she gains more experience in the organisation and works for longer periods of time.
The following is a list of benefits that an employee receives in addition to the IBPS Clerk salary:
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